General
Consumer price inflation still rose in 2020, despite the recession
Consumer prices rose 0.9 per cent over 2020, despite Australia enduring its first recession in almost three decades.
The Australian Bureau of Statistics (ABS) said the Consumer Price Index (CPI) rose 0.9 per cent in the December quarter, meaning the final six months of last year recorded price growth.
It means consumer prices still increased in Australia last year, despite suffering the biggest quarterly fall in the 72-year history of the index in the June quarter when the CPI slumped by 1.9 per cent after the Federal Government temporarily made childcare free from April to mid-July to help families cope with the economic consequences of the coronavirus shutdowns.
More to come.
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